FG approves new cash management policy -Finance Minister

March 15th, 2019

From Suleiman Isah Minna

The Federal Government has approved a new cash management guideline for government ministries, agencies and parastatals in order to trim down excess expenditures incurred in most domestic transaction. The new guideline is to also among other things device a better effective means to check administrative mechanisms that will reduce the nation burden of unplanned expenditure.

The Minister of Finance, Mrs. Zainab Ahmed stated this in Minna on Wednesday at the 2nd edition of a retreat for members of the technical sub-committee on cash management for members and other stakeholders.

According to the Minister, the retreat with the theme: “Inter agency/institutional collaboration as an integral part of effective cash management” is to provide a synergy to build and efficient cash management practice, saying, “it captures the mood of the nation given that there could be tendencies among some agencies to stand alone”.

The Minister who was represented by the Permanent Secretary, Special Duties in the ministry, Alhaji Mohammed Dikwa, maintained that “the dwindling revenue profiles of the country coupled with it attendant challenges on the cash flow position faced by the treasury calls for synergy among principal actors”.

Continuing she said the overall objectives of the retreat is to brainstorm on the ways and means of harmonizing the various methods of maximizing inflows and minimizing outflows for government.

The Accountant General of the Federation, Ahmed Idris in his remarks pointed out that the theme of the retreat is in tune with goals of financial practice of the present administration in adhering to principle of probity as a tool to moving the country forward.

Niger State Governor Alhaji Abubakar Bello said that the state government has since 2015 key in to the federal government policy of cash management policy which has led the state to commence the implementation of the Treasury Single Account (TSA).